While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
FB & LNG….put in an ORH day yesterday and is following through today. FB has another 10% based off swing counts for an initial move.
AMZN…a close over 301.96 put in an ORH day to the upside.
As long as this maintains above 299.70 look for a test of 307.
IBB…continues to be a sector favorite. With the Equities remaining firm we’re looking for 220.
Natgas infrastructure names has been the darling s of the hedge Funds on breaks all year. These should always be on your first to buy list on big corrections. They’ve been market leaders this whole rally.
Yen…if you tried this trade vs the Aussie in the A.M. you’re ok.
Yen is almost unchanged on the week, so if you’re not involved leave it alone until later today. We’ll take a look when we return from meetings in the early afternoon.
The lowest risk way to sell the Yen is via a currency cross.
EUR/JPY Long Euro/ Short Yen.
The Risk on EUR/JPY is 40 points, just under today’s low of 131.70.
The equity indices will remain an impossible trade.
For Glossary of terms and abbreviations click here.